Life Insurance Policy Loans Technology Choices and Strategic Asset liability Matching Management

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Title:	Life Insurance Policy Loans Technology Choices and Strategic Asset liability Matching Management
Authors:	Li, Xuelian;Xie, Yuxin;Lin, Jyh-Horng
Keywords:	Life insurance policy loan;technology choices;policyholder protection
Date:	2021-07-06
Issue Date:	2021-08-20 12:12:24 (UTC+8)
Publisher:	Emerging Markets Finance and Trade
Abstract:	We develop a two-stage contingent claim model to evaluate a life insurer’s equity. The model sequentially determines the optimal guaranteed rate and the optimal technology choice for strategic asset-liability matching management. We show that increases in policy loans decrease the insurance businesses at a reduced guaranteed rate. The shrinking life insurance businesses discourage the insurer from using advanced technology. However, we find that an increase in advanced technology involvement enhances insurance businesses at an increased guaranteed rate. An increase in the policy loan also increases the policyholder protection when considering the optimal guaranteed rate and technology choice strategies.
Relation:	Emerging Markets Finance and Trade 58(7)，p.1838-1847
DOI:	10.1080/1540496X.2021.1937117
Appears in Collections:	[Graduate Institute & Department of International Business] Journal Article

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